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One name on mortgage, but both wages considered
Madchef1970
Posts: 1 Newbie
Hi,
Is it possible to buy a house with one person on the mortgage but both wages are taken into consideration.
Is it possible to buy a house with one person on the mortgage but both wages are taken into consideration.
0
Comments
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I'd be very surprised!
The 2nd wage earner could walk away and the lender would be left dependant entirely on the 1st wage earner, ..... or on repossession (which is a lst resort - hence why they do wage checks!)0 -
No. It isn't.Madchef1970 wrote: »Hi,
Is it possible to buy a house with one person on the mortgage but both wages are taken into consideration.
In addition, if you apply to lenders likes Leeds or Yorkshire BS not only will the second income be ignored, affordability will be based on a two person household with only one income. Effectively, someone with an income becomes your financial dependent.
Suggest an independent mortgage broker be your next port of call.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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